Elon Musk announces plans to gift American children $10.5 billion in SpaceX shares

Billionaire entrepreneur Elon Musk has announced plans to distribute SpaceX shares worth approximately $10.5 billion to children across the United States in 2027.

According to Nairametrics, Musk disclosed the initiative in a post on his social media platform, X, promising one share to every American child.

“Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”

The proposed giveaway could benefit approximately 72 million children, based on United States Census Bureau population estimates.

With SpaceX shares valued at $146.03 each as of October 16, the total distribution would amount to approximately $10.52 billion.

The initiative would transfer about 1.12% of Musk’s reported SpaceX holdings, potentially reducing his ownership stake from 48.4% to 47.86%.

However, details regarding eligibility, distribution procedures and implementation timelines remain undisclosed.

The proposed distribution would provide beneficiaries with company shares rather than cash, with their value subject to market fluctuations.